SVF Investment announced it will be unable to close a business combination within deadline, resulting in the board’s decision to redeem shares and dissolve operations effective Jan. 27.
The per-share redemption price will be approximately $10.15. The balance of the trust as of Dec. 30 was $612.63 million.
Sposnored by SoftBank, SVF raised $500 million in a January 2021 IPO. The SPAC was focused on companies involved in artificial intelligence and IoT, the “Internet of Things.” Read more.
